1. Credit Suisse Ends Restructuring with Plan for up to $3 Billion Share Buyback

    Credit Suisse Ends Restructuring with Plan for up to $3 Billion Share Buyback

    ZURICH (Reuters) - Credit Suisse plans to buy back 2 to 3 billion Swiss francs ($2-3 billion) of shares over the next two years and raise its dividend, voicing confidence that its strategy is working after a painful three-year restructuring. Switzerland's second-biggest bank confirmed commitments to distribute half of net profit to shareholders, mainly through buybacks or special dividends, offering a sweetener to investors who have had to stomach hefty share price declines during Chief Executive Tidjane Thiam's three-and-a-half-year tenure. By focusing on managing assets for the world's wealthy, particularly the very richest and entrepreneurs in Asia, Credit ...

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    1. We welcome the decision to start buybacks, albeit we had hoped for more, and would note the 2019 RoTE (return on tangible equity) target is prudently based on flat year-on-year revenue developments, which suggests there is still room to beat this target in our view.
    2. Our billionaire clients care about this.
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